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Techstars CEO Maëlle Gavetannounced on LinkedInthat she is result the party at the end of the calendar month for health ground . Starting today , Techstars co - founder and board chairman David Cohenwill become CEO .
Gavet became CEO in 2021 and wrote on LinkedIn that she “ would not substitute the last 3.5 class of hard work for the world . ” She then gave a shoutout to her squad , the executive board , the employees , investor , and founders she worked with during her time .
“ I will be root for all of you from the sidelines and will remain a supporter of Techstars . ”
Techstars declined further comment about Gavet ’s going but indicate to its statement post on its site .
Gavet has had a rocky tenure at Techstars .
During Gavet ’s time as chief executive officer , her leadership style was a subject of disceptation , with employee and managing directors accusing her of fostering atense work environmentthat led to a significant labor exodus . Techstars also contend to poise its ambition to scale with itsneed for net income , and it had tense relationships withcorporate partner like JPMorgan Chasethat led tohigh client butter churn , concord to a reference .
Under Gavet , Techstars accelerator program in Austin , Toronto , Seattle , Sweden , Boulder , and Norway shut down . After Techstars ’ human relationship with JPMorgan deteriorated , the or so eight programs funded by that $ 80 million partnership — including in Miami , Atlanta , and Oakland — are now unlikely to proceed .
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In a separate statement post on the site , Cohen give thanks Maëlle for her time at the caller . “ She built a great team , mademany tough decisions , and bravely enact complex changes that were sorely need , ” the release said . “ Now Maëlle must focus on her wellness . I know I verbalize for everyone at Techstars when I say that we like her forte and courageousness as she cover what ’s out front . ”
Cohen said he was “ excited ” to be back as CEO of Techstars , a office he has had on and off for 13 old age . “ I will continue to focus on making Techstars even well for founders , ” he wrote .
Read more : Inside the ‘ cold warfare ’ at Techstars as CEO Maëlle Gavet hires , blast , fights to force changeTechstars ’ $ 80 M partnership with J.P. Morgan is on the rock’n’roll , employees sayLeaked documents show Techstars lost $ 7 million in 2023 but still had plenteousness of hard currency
